Comment on Investors are making up the highest share of homebuyers in 5 years
damnedfurry@lemmy.world 3 weeks agoThe concept of someone having enough money to rent but not enough to own is ghoulish in the first place.
Don’t think you’re being a little dramatic? There are many more costs involved in owning a house than the mortgage payment.
If my landlord can pay $<1,200 for this house’s mortgage and upkeep, and I can pay $1,200 a month for the right to sleep in it, then we should simply cut out the middle man and have me pay that $<1,200 a month for mortgage and upkeep directly.
You’re paying for not having the responsibility to pay for any maintenance/repairs upfront, and for having the ability to easily pack up and move on short notice. If the roof suddenly needs replacing, that’s $9500 on average that you have to pay right now.
Chances are, if you’re financially stable enough that you’d be able to handle things like that without it being a financial catastrophe for you, then you do have enough money to own.
starman2112@sh.itjust.works 3 weeks ago
Yes, and my rent covers literally all of them. Again, it has to, or else my landlord would be renting this house at a loss. I don’t want the opportunity to pack up and move on short notice. I’ve lived in this city since I was born, and I intend to die here. I should not be forced to pay a premium for a feature I will never use.
damnedfurry@lemmy.world 2 weeks ago
So, nothing’s keeping you from buying a house then, since what you already pay in rent covers all of the cost. Right?
Why haven’t you bought a house already, then? Could it be that it doesn’t just cost what you pay in rent each month?
starman2112@sh.itjust.works 2 weeks ago
Do you reckon I could get a mortgage with my <$30,000/year income and my zero credit history? If you do, I might actually look into it
Do u reckon every landlord is renting out their houses for a loss??? You get that that’s what you’re implying, right? Like, obviously a big expense